SAN ANTONIO — Boston-based lender UC Funds has provided an $18.2 million loan for the adaptive reuse of The Travis Building, a high-rise office building in San Antonio that was originally built in 1920. The undisclosed borrower will convert the building in a mixed-use property with 63 Class A apartments and 20,000 square feet of ground-floor retail space.
FORT WORTH, TEXAS — Marcus & Millichap has arranged the sale-leaseback of the U.S. headquarters of defense electronics firm Elbit Systems of America. The 215,729-square-foot manufacturing and office campus is located in Fort Worth. The property was built on 25 acres in 1980 and has been leased to Elbit Systems since 1993 on a triple-net basis. An undisclosed pension fund advisor purchased the campus from Elbit Systems as part of a portfolio sale that also included the defense contractor’s manufacturing plant in Roanoke, Va. Adam Abushagur of Marcus & Millichap handled the sale of the Texas facility.
FLOWER MOUND, TEXAS — Lee & Associates has secured a 198,854-square-foot industrial lease at 1901 Lakeside Parkway in the northern Fort Worth suburb of Flower Mound for asset management and logistics firm TelTech Communications. Completed in 2019, the rear-load property features 32-foot clear heights, 180-foot truck courts and 38 trailer parking spaces. Tom Walrich of Lee & Associates represented the tenant in the lease negotiations. John Fulton and Brett Owens of Transwestern represented the landlord, Denver-based Black Creek Group.
AUSTIN, TEXAS — Extended Stay America has opened a 124-room hotel at 1311 Airport Commerce Drive near Austin-Bergstrom International Airport. The four-story property features suites with full-size refrigerators, recliners and workspaces. Amenities will include a fitness center, laundry facilities and complimentary Wi-Fi.
LA PORTE, TEXAS — Boyd Commercial has negotiated a 75,000-square-foot industrial lease for Cottondale Wood Products, an Alabama-based supplier of wooden pallets for the petrochemical industry, in the southeastern Houston suburb of La Porte. The property is situated within two miles of Port Houston’s Barbour’s Cut Terminal. William Carpenter, Greg Barra and David Boyd of Boyd Commercial represented the tenant, which plans to take occupancy later this summer, in the lease negotiations. Jeff Everist of CBRE represented the landlord, Hines.
HOUSTON — O’Reilly Auto Parts has signed a 36,823-square-foot retail lease at Mercado 6 Marketplace, a shopping center located at 7355 Highway 6 S. in Houston. Taki Dallis and Joaquin Orozco of RESOLUT Real Estate represented the undisclosed landlord in the lease negotiations. Ford Jones of Independence Commercial Real Estate represented the tenant.
AUSTIN, TEXAS — On Monday, a group of about 25 bar owners filed a lawsuit in Travis County District Court challenging Texas Gov. Greg Abbott’s executive order to shut down bars across the state following a recent surge in COVID-19 cases. The Austin-American Statesman first reported the news and notes that the lawsuit is predicated on the notion that Abbott’s order suspends state laws, a power that is reserved strictly for the Texas Legislature. Multiple outlets including The Texas Tribune have since confirmed the report. In the order issued on Friday, June 26, Abbott demanded that all bars and establishments that earn more than 51 percent of their gross revenue from sales of alcoholic beverages close their doors, effective as of noon that Friday. The order permitted restaurants to remain open for dine-in services but at 50 percent or less of their stated indoor capacities, effective Monday, June 29. As part of the order, rafting and tubing businesses were also ordered to close, and local governments must now approve outdoor gatherings of 100 or more people. According to the Texas Restaurant Association, about 800,000 industry workers have lost their jobs since the pandemic began. Over the weekend, Abbott noted that …
AUSTIN, TEXAS — Whole Foods Market has opened its 35,000-square-foot store at Saltillo, a mixed-use development in East Austin by Endeavor Real Estate Group. The store has served as a fulfillment center for other regional stores during most of the COVID-19 pandemic. The store now offers fresh produce from 75 different growers, full-service meat and seafood departments, a bakery, coffee kiosk and more than 1,000 different wines and 280 different beers, including 150 selections from local alcoholic beverage suppliers.
RICHARDSON, TEXAS — DebtBlue, a national debt service settlement firm, has signed a 30,291-square-foot office lease for its new headquarters at 1125 E. Campbell Road in the northeastern Dallas suburb of Richardson. The company is expanding and relocating from a 6,000-square-foot space in nearby Addison. Ryan Hoopes of Cushman & Wakefield represented the tenant in the lease negotiations. Clint Madison and John Fancher, also with Cushman & Wakefield, represented the landlord, Los Angeles-based Stanton Road Capital.
HOUSTON — Cushman & Wakefield has brokered the sale of the Republic Building, a 19,850-square-foot office property located at 1018 Preston St. in downtown Houston. The building was originally constructed in 1907, housed the U.S. District Court in 1910 and was admitted to the National Register of Historic Places in 1979. Scott Miller, David Cook and Jeff Peden of Cushman & Wakefield represented the seller, Republic Building TX LP, in the transaction. Fred Ghabriel of Bejjani & Associates Inc. represented the buyer, a subsidiary of government contractor MVL Group.